GoIP to Acquire GetCharged, Inc.
Building the Largest Global Network of Charging and Parking Solutions for Micromobility
New York, NY, Oct. 01, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire-- GoIP Global Inc. (OTC PINK: GOIG) announced today the acquisition of GetCharged, Inc., a privately-held transportation company focused on building the largest global network of charging and parking stations for micromobility devices, electric scooters, and e-bikes.
Micromobility, defined as urban transport vehicles that are human-powered, electrically assisted, or electrically powered, has disrupted transportation. This relatively new form of transport is attracting a strong customer base at a rate more than double either car-sharing or ride-hailing, according to a recent study. There are currently Micromobility operators in over 150 cities, and there are over 1 million scooters deployed. Micromobility is modeled at a 2030 market potential of roughly $200 to $300 billion in the United States, $100 billion to $150 billion in Europe, and $30 billion to $50 billion in China. GetCharged's solutions are designed to benefit cities, scooter operators, riders, and non-riders alike by providing a safe infrastructure that brings order to the chaotic nature of scooters discarded on sidewalks, lowers operational costs, and offers consumers fully charged vehicles. GetCharged is poised to bring the Micromobility industry to profitability more quickly, making scooter use a welcome urban transport alternative and supporting users with dependable and searchable pickup locations.
"We believe the backing of GoIP's institutional investors, the adjacency of GoIP's recently announced acquisitions, our future acquisitions, and GetCharged's vast growth potential, driven by its talented team, presents tremendous upside opportunity for all of our stakeholders. Our entire board and institutional investors are excited to devote the capital necessary to rapidly grow GetCharged's footprint in this fast-growing on-demand ride-sharing movement. Also, we see this acquisition as consistent with our desire to increase shareholder value constantly as we see the GetCharged charging and parking stations opportunity as similar to other infrastructure plays, such as the cell tower business," stated Kenneth Orr, Chairman of GoIP.